Standard Terms of Business

OUR STANDARD TERMS OF BUSINESS


 

1.   ACCEPTANCE OF THE PO.

Acceptance of the PO in its entirety shall be made by Seller in writing, within fourteen (14) calendar days of the PO’s receipt. Buyer is entitled to cancel at no cost any PO within three (3) calendar days following the date of sending of the PO.

2.   DELIVERY

Delivery is of the essence in the Contract and shall be in strict compliance with the schedule and quantities contained in the PO. We generally take 6 to 8 weeks. Goods contained in the PO shall be delivered to the location specified in the PO. If Seller encounters or anticipates difficulty in meeting the delivery schedule specified on the PO, Seller shall immediately notify Buyer in writing, giving pertinent details, the reasons for the delay, the actions being taken to overcome or minimize the delay.

3.   PACKAGING & SHIPMENT

All Goods to be delivered hereunder shall be packaged to insure safe arrival at their destination, to secure the best transportation means and to comply with the applicable local laws and with requirements of common carriers. Seller shall ensure that Goods are shipped with the documents in compliance with all applicable standards and regulations at the date of delivery, in compliance with Buyer’s instruction.

4.   PRICES

Unless otherwise specified, prices are fixed and firm and are as per Incoterm (2010 edition)specified in the PO.

5.   PAYMENT

The payment terms are as follows:

        - 100% advance payment via bank transfer.
        - 50% advance and the balance 50% at the time of delivery.
        - Through Letter of Credit

The invoice for each delivery must be sent to the Buyer’s address specified in the PO within five (5) calendar days of the delivery date. Seller shall be paid by bank transfer, according to the payment terms as stipulated in the PO.

6.   CONFIDENTIALITY

The information disclosed under any form by Buyer to Seller relative to the PO, to the extent that such information is not in the public domain and evidenced by written documents, shall not be disclosed to any third parties.

 

 

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